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Retail sales grows 3.9 percent in September

By Anne D'InnocenzioThe Associated Press

Posted:
10/05/2012 12:01:00 AM MDT

NEW YORK — Americans may have slowed their spending in September after splurging during the start of the busy back-to-school shopping season in the month before. But most important, they were still spending.

September sales rose 3.9 percent — a slowdown from the 6-percent rise in August — as retailers such as Macy's and Costco reported mixed results, according to the International Council of Shopping Centers. Still, given the economic and political uncertainty that weighs on many Americans right now, analysts say the results are an encouraging sign for stores as they head into what's traditionally the busiest shopping period of the year in November and December.

"This should set up to be a good holiday season," said Ken Perkins, president of Retail Metrics LLC, a research firm.

But only a handful of merchants representing about 13 percent of the $2.4 trillion U.S. retail industry report monthly revenue. And that list is dwindling: Target Corp. on Thursday said it will no longer report monthly figures, starting next year.

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